TMI Blog1977 (6) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee is a registered firm. The assessment year is 1965-66, the accounting year being the year ended on May 31, 1964. The assessee purchased 2 acres 15 cents of land on July 14, 1961, in Ward No. 1, Block 5 of the Calicut Corporation. As the property had no approach to any road, a narrow piece of land for providing a passage was subsequently purchased by the assessee. The total amount including the incidental charges expended by the assessee for the purchase of the land was Rs. 14,607. The assessee's land was subsequently acquired under the Land Acquisition Act by award dated March 23, 1964. The total sum received by the assessee by way of compensation under the Act was Rs. 69,952.03. The Income-tax Officer in completing the assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 14,607, which worked out to Rs. 69 per cent. But if the cost of passage was excluded the price per cent would be even less. The Tribunal observed that the department had no case that a house site could have been purchased for such a low price in 1961 in the Corporation area of Calicut. It was also found that there were 90 coconut trees in addition to various other trees in the property. There were two thatched houses and also a well. Taking note of all this, including the further fact that the Land Acquisition Officer had upon an inspection of the property found that the land was agricultural property, the Tribunal came to the conclusion that the property was agricultural in character both at the time of its purchase by the assessee in 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Wards), Paigah [1976] 105 ITR 133 (SC) and Deputy Commissioner of Agricultural Income-tax and Sales Tax v. Travancore Rubber and Tea Co. [1967] 20 STC 520, 527 (SC)]. The determination of the character of the land is a matter which has to be made on the facts of each particular case. These facts have been found by the Tribunal in favour of the assessee. This court would not enquire into the sufficiency of materials or substitute its judgment in the place of the judgment of the Tribunal in regard to questions of fact. So long as the finding of the Tribunal cannot be characterised as arbitrary or unreasonable, in the sense that there is total absence of legal evidence to support its conclusion, this court will be very slow to interfere wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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